An Act to Amend Section Eight of Republic Act Numbered Five Hundred and Eighty-Eight, Entitled "An Act to Amend Certain Sections of Commonwealth Act Numbered Four Hundred and Sixty-Six, Otherwise Known as the National Internal Revenue Code, as Amended," to Make the Rates Prescribed Therein Permanent
Year:
1956
Category:
Other
Date Approved:
June 16, 1956
Summary
Plain-language AI-assisted summary — not the official text. As of July 1, 2026. Read the full text below or on the official source.
This Act amends Section Eight of Republic Act No. 588 to make the rates prescribed therein permanent. It aims to provide stability in the national internal revenue code by ensuring that the rates do not change frequently.Full Text
REPUBLIC ACT No. 1506
An Act to Amend Section Eight of Republic Act Numbered Five Hundred and Eighty-Eight, Entitled "An Act to Amend Certain Sections of Commonwealth Act Numbered Four Hundred and Sixty-Six, Otherwise Known as the National Internal Revenue Code, as Amended," to Make the Rates Prescribed Therein Permanent
Be it enacted by the Senate and House of Representatives of the Philippine Congress Assembled:
Section 1. Section eight of Republic Act Numbered Five hundred and eighty-eight, as amended by Republic Act Numbered Seven hundred twenty-six, Republic Act Numbered Nine hundred and fifty-eight, Republic Act Numbered One thousand ninety-one, and Republic Act One thousand two hundred eighty, is further amended to read as follows:
Section 2. This Act shall take effect upon its approval.
Approved: June 16, 1956.
"Sec. 8. The provisions of this Act shall take effect upon its approval."
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Republic Acts are laws passed by the Congress of the Philippines. This content is sourced from LawPhil (lawphil.net) for reference purposes. For official and authoritative texts, please refer to the Official Gazette.